- Bitcoin Depot signed a partnership with Fareway Stores to deploy Bitcoin ATMs (BTMs) in 66 Fareway grocery store locations across the Midwest starting in Q2 2024
- This expands Bitcoin Depot’s footprint to over 8,000 BTM locations, making it the largest BTM operator in North America
- The partnership allows Fareway customers easy access to convert cash into Bitcoin for payments, transfers, remittances, and investments
Bitcoin Depot (NASDAQ: BTM), a U.S.-based Bitcoin ATM (“BTM”) operator and leading fintech company, today announced its retail partnership with Fareway Stores Inc. (“Fareway”), a growing Midwest grocery company currently operating more than 130 grocery store locations across the Midwestern US.
Partnership Overview
Bitcoin Dept plans to deploy BTMs in 66 Fareway locations starting in Q2 of 2024 throughout Iowa, Illinois, Minnesota, Nebraska, South Dakota, Kansas, and Missouri. “We’re thrilled to work with a growing grocery store brand like Fareway as we continue our own expansion efforts in 2024, reinforcing our commitment to providing easy and convenient crypto access to new and returning users,” said Brandon Mintz, CEO of Bitcoin Depot.
“Our technology has a proven track record of success across our portfolio of retail partners and I believe our customer-first approach aligns perfectly with Fareway’s ethos. We anticipate a mutually beneficial partnership that enhances the cash to Bitcoin experience for Fareway customers,” Mintz added.
Bitcoin Depot’s Offerings
Bitcoin Depot’s products and services provide an intuitive, quick and convenient process for converting cash into Bitcoin. This allows users to access the broader digital financial system, including using Bitcoin to make payments, transfers, remittances, online purchases, and investments.
Fareway’s Perspective
“At Fareway, we are dedicated to enhancing the shopping experience for our customers by offering innovative solutions and services,” said Scot Kinne, Vice President of Banking, Payments and Investments at Fareway Stores. “Partnering with Bitcoin Depot allows us to further enrich our offerings and meet the evolving needs of our communities. We look forward to introducing Bitcoin Depot’s BTMs to our customers and continuing to provide exceptional service across our stores.”
Bitcoin Depot’s Recent Growth
This news builds upon Bitcoin Depot’s recent operational momentum and significant growth milestones following its recent expansions into Australia and Puerto Rico. In April 2024, the Company surpassed its goal of deploying 8,000 Bitcoin ATMs. With these achievements, Bitcoin Depot now retains the largest installed fleet of BTMs in its history, solidifying its position as the leading BTM operator in North America.
Conclusion
The partnership between Bitcoin Depot and Fareway Stores will lead to the deployment of 66 new Bitcoin ATM kiosks across grocery stores in the Midwest starting in Q2 2024. This aligns with Bitcoin Depot’s rapid expansion as the dominant Bitcoin ATM operator in North America. Both companies aim to provide exceptional customer service and see this collaboration as mutually beneficial.
